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Summary John R. Schemerhorn Management - Chapter 8 - The Fundamentals of Planning
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John R. Schemerhorn Management - Chapter 8 - The Fundamentals of Planning
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Chapter 8 The Fundamentals of PlanningWhy and how Managers Plan
Planning is the process of setting objectives and determining how to
accomplish them
Importance of planning
When planning is done well it creates a good base for the other
management functions (organizing, controlling and leading)
The planning process
Five basic steps of the planning process:
1. Define your objectives
2. Determine where you stand vis-à-vis objectives
3. Develop premises regarding future conditions
4. Analyze alternatives and make a plan
5. Implement the plan and evaluate results
• Objectives and goals - Identify the specific results or desired outcomes
that one intends to achieve
• Plan - A statement of action steps to be taken in order to accomplish the
objectives
• Stretch goals – you have to work extra hard to reach this type of target
Benefits of planning
Improves focus and flexibility
Improves action orientation
Improves coordination and control
Improves time management
Types of plans Used by Managers
Long & short range plans
Operational (most of us 3 months)
Tactical/functional (few, 1 year)
Strategic (VERY few people, 20 year time frame)
Strategic and tactical plans
• Strategic plans — set broad, comprehensive, and longer-term action
directions for the entire organization
• Vision – clarifies purpose of the organization and what it hopes to be in
the future
• Tactical plans – help implement a strategic plan
• Functional plan – how different components of the enterprise will
contribute to the overall strategy
Operational plans
Operational plans identify short-term activities to implement strategic
plans
Standing plans – used over and over again
Single use plans – used once, for one specific task (budget)
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